In a recent market analysis, the trader known as Pentoshi, celebrated for accurately predicting the peak of the 2021 Bitcoin bull market, is now forecasting upward movements for Ethereum (ETH) and the artificial intelligence (AI) coin Fetch.ai (FET). With keen insights shared on social media platform X, Pentoshi’s perspectives are creating a buzz among crypto enthusiasts.

Ethereum, currently valued at $2,038, has caught Pentoshi’s attention due to its potential to breach a year-long resistance level set at $2,144. The trader believes that Ethereum’s recent surge wasn’t merely for show and is optimistic about it surpassing yearly highs. Pentoshi hints at the possibility of short positions accumulating in the mentioned range to trigger liquidations.

Pentoshi emphasizes a potential correlation between Ethereum’s performance and the approval of a Bitcoin exchange-traded fund (ETF). Expressing the sentiment, he suggests that if a BTC ETF is greenlit, Ethereum might experience a more robust rally, highlighting the interconnected nature of major cryptocurrencies.

On the altcoin front, Fetch.ai, an AI-focused cryptocurrency, has also captured Pentoshi’s interest. Trading at $0.413 presently, Pentoshi sees potential for Fetch.ai to soar once it reclaims the $0.49 resistance level. His prediction indicates a bullish outlook, projecting a target of $0.69 upon surpassing the noted barrier.

The trader’s insights extend beyond individual coins to the broader market. Pentoshi is closely monitoring TOTAL 3, a metric tracking the overall cryptocurrency market cap excluding Bitcoin and Ethereum. At the current trading value of $406.356 billion, Pentoshi notes a positive trajectory with room for further upside before encountering resistance. This observation suggests that altcoins, as a collective, could witness substantial rallies in the upcoming weeks.

Pentoshi’s analysis reflects a cautious optimism, reminding investors that market volatility can present opportunities. He encourages a strategic approach, noting that sharp pullbacks, if managed wisely, can be considered as advantageous entry points for investors.

As the crypto landscape continues to evolve, Pentoshi’s predictions add a layer of anticipation, prompting investors and enthusiasts to keep a close eye on Ethereum, Fetch.ai, and the altcoin market as a whole.